Fuel prices are climbing again, with petrol now selling for as much as ₦1,430 per litre at some filling stations in Abuja, raising fresh concerns that pump prices could approach ₦1,500.
Petrol prices are once again coming under pressure across Nigeria following another increase in the price of Premium Motor Spirit by the Dangote Petroleum Refinery.
The refinery raised its petrol gantry price from ₦1,265 to ₦1,350 per litre effective September 12, representing an ₦85 increase and the fourth upward adjustment since August 21. The cumulative increase during the period now stands at ₦185 per litre. (Punch Newspapers)
The latest wholesale adjustment has already begun reflecting at filling stations, particularly in Abuja.
Checks in the Federal Capital Territory showed MRS outlets selling petrol at ₦1,395 per litre, while NIPCO stations increased their price to ₦1,430. Mobil outlets were also selling at about ₦1,400 per litre. (ICIR News)
With marketers expected to replenish their existing stocks at the new higher wholesale price, there are growing concerns that pump prices could rise further in the coming days.
An attendant at an MRS filling station reportedly said the station was still selling old stock at ₦1,395 but expected the price to increase once new supplies arrived.
The latest development is already generating anxiety among motorists and households, as petrol remains a major cost component of transportation and business operations in Nigeria.
When petrol prices rise, the impact rarely stops at the filling station. Transport operators often face higher operating costs, businesses spend more on logistics and power generation, while the cost of moving food and other essential commodities can also increase.
For ordinary Nigerians already dealing with elevated living costs, another increase in petrol prices could place additional pressure on household budgets.
At ₦1,500 per litre, filling a vehicle’s tank is no longer simply a routine expense for many households. It becomes a significant financial decision, particularly for workers, commercial drivers, small businesses and families that depend heavily on road transportation.
The question now is how far pump prices will rise as filling stations exhaust their old stocks and begin purchasing at the latest wholesale rate.
For Nigerians, the concern is bigger than the price displayed at the pump. Every increase in petrol carries the potential to ripple through transportation, food prices, logistics, production and the wider cost of living.
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